In a recent development, Chelsea FC may find themselves in hot water with the Premier League as they have voluntarily disclosed potential undisclosed payments tied to the transfers of Willian and Samuel Eto'o.
The Premier League has initiated an investigation into alleged financial irregularities within the club, following reports submitted by the Todd Boehly consortium.
This consortium took control of Chelsea in May 2022, in the aftermath of the UK government's sanctions against Roman Abramovich, the club's former owner, due to his connection with Russia's invasion of Ukraine.
According to financial records, Chelsea made payments to offshore entities and "Russian entities" that appear unrelated to the actual transfer fees. Willian, for instance, was signed for £30 million from Anzhi, shortly after the Russian club had purchased the Brazilian winger from Shakhtar Donetsk for the same sum. Additionally, Samuel Eto'o joined Chelsea on a free transfer.
It's crucial to note that there is no implication that either player had knowledge of these payments. The Todd Boehly-Clearlake Capital consortium discovered these irregularities during their due diligence process last year and promptly reported them to the Football Association (FA), Premier League, and UEFA.
Despite the fact that these alleged payments were made during the Abramovich era, the club may still face sanctions. This is because these payments were not included in the club's original annual financial reports, putting Chelsea in potential violation of league rules. If found guilty, the Premier League may opt for substantial fines or even a points deduction as consequences for these financial breaches.
Chelsea's future in the Premier League now hinges on the outcome of the ongoing investigation, which could have far-reaching implications for the club's standing in the league.